Trump Tariff

Apex exporters' body FIEO on Wednesday said it has asked its members to engage with US buyers to seek a share of the refunded tariffs, with the United States initiating the process of refunding reciprocal tariffs from April 20. FIEO President S C Ralhan said that there is no legal right of Indian exporters on those refunds, as only the US businesses are getting the refunds. "But if an Indian exporter has a good relationship with his or her US buyer, she may get some share," he said. In its report, think tank Global Trade Research Initiative (GTRI) said that the engagement with the US buyers will be important as the refunded payments go only to US importers, and exporters have no legal right to claim them. Indian exporters have no direct legal route to claim refunds. Another industry official from the leather sector said that the businesses will discuss the matter with the US importers. "We are talking to our buyers on this," a leather sector exporter said. The US tariffs, impose

The US has initiated the process of refunding reciprocal tariffs from April 20, and Indian exporters should proactively engage with American buyers to seek a share of the refunded duties, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that the engagement will be important as the refunded payments go only to US importers, and exporters have no legal right to claim them. Indian exporters will have no direct legal route to claim refunds, it said. The US tariffs, imposed from April 2, 2025, affected export of many Indian products, it said, adding that the total refund is about USD 166 billion, with roughly USD 12 billion linked to goods from India. To get refunds, US importers must file detailed claims online with shipment data, tariff lines and proof of payment. The reciprocal tariff regime began at 10 per cent on April 2, 2025 and was rapidly escalated. Rates for India rose to 25 per cent by Aug. 7, 2025 and to 50 per cent by August 28, remaining a

But the February Supreme Court reversal of his decision has put future gains in doubt

The US has launched fresh trade investigations into 16 major trading partners, including India, under Section 301 of the Trade Act of 1974, after the SC struck down much of Trump's tariff programme

During State of the Union address, Trump described a recent Supreme Court ruling on tariffs as "unfortunate", but maintained that his tariff regime was saving and protecting the country

In a 6-3 decision last week, the justices declared President Donald Trump's use of an economic emergency powers law illegal

The Supreme Court's ruling against US President Donald Trump's tariffs has countries like China and South Korea watching for Washington's next steps, while financial markets took the news in stride. The decision announced Friday could potentially disrupt arrangements worked out in trade negotiations since Trump announced sweeping tariffs on dozens of countries in April 2025. China's Commerce Ministry said it was conducting a "comprehensive assessment of" the ruling against the tariffs Trump imposed under the International Emergency Economic Powers Act, or IEEPA. "China urges the United States to lift the unilateral tariffs imposed on trading partners," an unnamed ministry spokesman said in a statement. The statement reiterated Beijing's stance that there are no winners in a trade war and that the measures Trump had announced "not only violate international economic and trade rules but also contravene domestic laws of the United States, and are not in the interests of any party," th

Finance Minister Nirmala Sitharaman on Monday said it is too early to comment on the tariff changes announced by the United States and the commerce ministry is reviewing the situation. On Friday, the US Supreme Court gave a verdict against the sweeping import tariffs imposed by the Trump administration on trade partners. Following that, President Donald Trump imposed a 10 per cent tariff on all countries, including India, from February 24 for 150 days. Later on Saturday, Trump announced raising these tariffs to 15 per cent. Asked about the impact of tariff changes on the Indian economy, Sitharaman said it is a "bit too soon" to comment. "But on the trade particularly, aside from the Indian economy in general, the commerce ministry is reviewing the situation. The delegation will have to take a call on when they are going to go for further negotiations. So it's a bit too early for me (to comment)," Sitharaman said. On Sunday, India and the US decided to reschedule the proposed meetin

The issue most economists see is that despite the president's proclamation, there's no evidence the US isn't able to pay its bills or meet the obligations it has to international investors

Bullion climbed as much as 1.3 per cent to above $5,170 an ounce. Trump said Saturday he would impose a global tariff of 15 per cent to preserve protective trade measures

US Supreme Court curbs Trump's sweeping tariff powers, but new levies and trade probes keep global partners and businesses on edge

GTRI says the US Supreme Court's decision striking down Trump's global tariffs frees most Indian exports from reciprocal duties, prompting a reassessment of the new bilateral trade deal

A senior US lawmaker has said that President Donald Trump is "grasping for excuses" to "slap outrageous tariffs" on India for purchasing Russian oil, urging him to reverse this policy immediately. "President Trump is grasping for excuses to slap outrageous tariffs on #India," Congressman Brad Sherman said in a social media post on Wednesday. Sherman, a senior member of the House Foreign Affairs Committee as well as of the House Financial Services Committee, said in the post that Trump claims tariffs on India are about importing Russian oil. "Yet Hungary imports 90% of its crude from Russia with no tariffs. And China, Russia's biggest oil buyer, hasn't been hit with sanctions tied to purchasing Russian oil, though it has been hit for other reasons. "India gets just 21% of its crude from Russia, but our ally is being singled out. The President should reverse this policy immediately," Sherman said. Earlier this month, the US and India announced that they reached a framework for an ..

The House has voted to slap back President Donald Trump's tariffs on Canada, a rare if largely symbolic rebuke of the White House agenda as Republicans joined Democrats over the objections of GOP leadership. Wednesday's tally, 219-211, was among the first times the House, controlled by Republicans, has confronted the president over a signature policy. The resolution seeks to end the national emergency Trump declared to impose the tariffs, though actually undoing the policy would require support from Trump himself, which is highly unlikely. The resolution next goes to the Senate. Trump believes in the power of tariffs to force US trade partners to the negotiating table. But lawmakers are facing unrest back home from businesses caught in the trade wars and constituents navigating pocketbook issues and high prices. "Today's vote is simple, very simple: Will you vote to lower the cost of living for the American family or will you keep prices high out of loyalty to one person -- Donald J

Pidilite Industries anticipates a quick recovery in its US exports, which slowed in Q3 FY'26, following the India-US tariff revision, said its Managing Director Sudhanshu Vats on Wednesday. The company expects to continue its 'double-digit underlying volume growth' in the fourth quarter, and in the coming fiscal year, FY'27, he said in a post result briefing. Pidilite Industries on Tuesday declared its earnings for the December quarter, in which it reported a 12 per cent rise in consolidated net profit at Rs 623.84 crore on a year-to-year basis. Its revenue from operations stood at Rs 3,709.91 crore, up 10.12 per cent. During the quarter, Pidilite's industrial products revenue under its Business to Business (B2B) was impacted by lower exports. Its EBIT also declined in Q3 by 77 bps due to slower exports. When asked about the impact of the India-US deal, Vats said: "Our export component, fortunately for us, is small, but we do export to the US. That has slowed down quite a lot." "A

We need to protect and empower the Canadian economy and trade diversification is fundamental to that, says

Decision follows Trump's talks with Nato chief Mark Rutte on a future Greenland and Arctic security framework, prompting the US President to drop planned tariffs on European allies

Moments before von der Leyen stepped to the podium in Paraguay, the US president dropped a blistering announcement: He was piling more tariffs on Europe over its support for Greenland

The government has drafted plans for a small number of Canadian Armed Forces troops to join those from the UK, France, Denmark and other nations

He added that Arctic security is a concern for the entire Nato alliance and that all member states should work together to address threats posed by Russia across the region